Authors : V. Ramakrishnan and S.S.K. Srivatsa
Abstract: This study describes the principles underlying the economic assessment of wind power plant. It explain the need to take account of all costs related to wind turbine construction under operations in an economic model including initial and capital cost, annual running cost (which includes maintenance and operations) and capital replacements such as major spares. The main method of economic assessment, discounted cash flow, is described in detail. Various methods of measuring the values of the project are described, including simple payback, net present value, internal rate of return and benefit cost to ratio. Although the study concentrates on wind turbines for electricity generation, the principle of economic assessment can be applied to the use of wind plant for any purpose.
V. Ramakrishnan and S.S.K. Srivatsa , 2008. Economic Assessment of Wind Power Plant. International Journal of Electrical and Power Engineering, 2: 109-115.